USD 129.12 billion
Global Automotive Artificial Intelligence (AI) Market Size, Share, Growth Analysis, By Technology(cameras, RADAR), By End user(Autonomous Driving, Semi-Autonomous Driving) - Industry Forecast 2024-2031
Report ID:
SQMIG45A2064 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
65 |
Figures:
72
Global Automotive Artificial Intelligence (AI) Market Insights
Global Automotive Artificial Intelligence (AI) Market size was valued at USD 129.12 billion in 2022 and is poised to grow from USD 178.31 billion in 2023 to USD 2359.05 billion in 2031, at a CAGR of 38.1% during the forecast period (2024-2031).
Artificial intelligence (AI) is one of the slowest advances in software engineering. It is related to human intelligence through equivalence qualities such as language acquisition, reasoning, learning, and critical thinking. Manufacturers on the market are observing enormous and fundamental scientific difficulties in reorienting and correcting innovations. Moreover, the development of automotive business relies on to drive the automotive artificial intelligence market. The automotive industry has come across the promise of artificial intelligence and is one of the notable companies using AI to augment and replicate human activity.
Artificial intelligence (AI) is one of the slowest advances in software engineering. It is related to human intelligence through equivalence qualities such as language acquisition, reasoning, learning, and critical thinking. Manufacturers on the market are observing enormous and fundamental scientific difficulties in reorienting and correcting innovations.
Moreover, the development of automotive business relies on to drive the automotive artificial intelligence market. The automotive industry has come across the promise of artificial intelligence and is one of the notable companies using AI to augment and replicate human activity.
US Automotive Artificial Intelligence (AI) Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
inertia sensors
Fastest Growth
inertia sensors
Growth Rate
38.1% CAGR
Global Automotive Artificial Intelligence (AI) Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Automotive Artificial Intelligence (AI) MarketSize By technology 2021-2030 ($ Bn)
Global Automotive Artificial Intelligence (AI) Market Size By technology 2021-2030 (%)
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Global Automotive Artificial Intelligence (AI) Market Segmental Analysis
Global Automotive Artificial Intelligence (AI) Market is segmented on the basis of Technology type, end user, and region. By Technology, the market is sub-segmented into cameras, RADAR, GPS, LiDAR, and inertia sensors and Others. By End user, the Automotive Artificial Intelligence (AI) Market is categorized into Autonomous Driving, Semi-Autonomous Driving, Human–Machine Interface. By region, the Automotive Artificial Intelligence (AI) Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Automotive Artificial Intelligence (AI) Market Analysis by Technology
By Technology type, the inertia sensors segment is likely to see significant growth rates in the coming years. One of his most important technologies enabling autonomous driving is deep learning. A versatile tool that can solve almost any problem. Self-driving cars are more powerful than high-performance graphics cards, computers, and massive amounts of data. If it spreads, traffic congestion will be alleviated and traffic safety will improve. A self-driving car is an autonomous decision -making system. It can process data streams from various sensors such as cameras, radar, GPS, LiDAR, and inertial sensors. This information is modeled using deep learning algorithms that make decisions based on the vehicle's current environment.
Global Automotive Artificial Intelligence (AI) Market By technology 2021 (%), 2022 (%)
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Global Automotive Artificial Intelligence (AI) Market Regional Insights
The Automotive Artificial Intelligence Market in North America is expected to grow at a high rate. The early adoption of technologies such as AI, machine learning, deep learning and automation. Additionally, the growing trend toward autonomous and electric vehicles and increasing implementation of driver assistance technologies contributes to the increase in per capita income in the region. This is some of the aspects that continue to lead the North American region.
Asia-Pacific is experiencing significant growth across all fronts, including consumer electronics, internet infrastructure, economic growth, and spending opportunities. Increased demand for luxury vehicles, increased investment in AI technology to improve productivity, and introduction of AI-based solutions and services for autonomous and semi-autonomous applications are all driving growth in the region, driven by government initiatives contribute.
The South Korean government aims to invest significant resources worth USD 6.15 billion to expand its nationwide production of automation systems and industrial robots. Several cases similar to the above point to positive growth in the Asia-Pacific automated artificial intelligence market. In addition, the development of internet and connectivity infrastructure, increasing adoption of smart solutions to automate operations, and increasing digitization are also contributing to the market growth in the region.
Global Automotive Artificial Intelligence (AI) Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global Automotive Artificial Intelligence (AI) Market Dynamics
Automotive Artificial Intelligence (AI) Market Drivers
Rapid Adoption of Advanced Technology is Influencing Demand for Automotive Artificial Intelligence
- Market rewards improve as buyers become more proactively knowledgeable about free progressions. Interest in self-driving cars will continue to flood aggressively throughout this period, as buyers rapidly advanced driver assistance by reducing vehicle weight and ensuring road abundance. Automaker are taking note of these examples and taking them to next level to offer innovative driver assistance solutions. Another variable contributing to the market share of artificial intelligence in cars is increasing revenues on driver comfort and creating headroom for adaptability.
Automotive Artificial Intelligence (AI) Market Restraints
Safety Concerns to Hinder Market Growth
- Independent vehicles protected and made the customer presence more lucrative. Still, there are certain dangers considered by the authors in relation to safety and security issues, such as personal data protection, digital attacks, driver interruptions etc. For example, about 1.4 million Fiat Chryslers in the United States are a bug in the board PC allowed programmers to weaken the vehicle's functionality, so it was inspected. Basically, White Cap programmers managed to embed malware into the structure of Tesla cars. These examples of customer security breaches are some of the serious limitations in market development.
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Global Automotive Artificial Intelligence (AI) Market Competitive Landscape
The Global Automotive Artificial Intelligence (AI) Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Automotive Artificial Intelligence (AI) Market Top Players Company Profiles
- AiCure
- Arm Limited
- Atomwise, Inc.
- Ayasdi AI LLC
- Baidu, Inc.
- Clarifai, Inc
- Cyrcadia Health
- Enlitic, Inc.
- Google LLC
- H2O.ai.
- HyperVerge, Inc.
- International Business Machines Corporation
- IBM Watson Health
- Intel Corporation
- Iris.ai AS.
- Lifegraph
- Microsoft
Automotive Artificial Intelligence (AI) Market Recent Developments
- In March 2021, BMW introduced iDrive 8, the company's next infotainment system, which aims to be a drive digitally connected, smart and proactive companion. Future BMW iX and i4 models will be powered by computer vision, computational linguistics, AI cloud, and 5G.
- In May 2021, Didi Chuxing announced a strategic partnership with Volvo Cars on autonomous vehicles for DiDi’s self-driving test fleet. Volvo autonomous drive-ready XC90 cars will be the first to integrate DiDi Gemini, a new self-driving hardware platform, which is equipped with NVIDIA DRIVE AGX Pegasus. These vehicles, equipped with DiDi’s Gemini self-driving hardware platform, will eventually be deployed in robotaxi services.
Global Automotive Artificial Intelligence (AI) Key Market Trends
- Increasing positive consumer perceptions of self-driving technology will complement market revenue. Demand for self-driving vehicles will grow exponentially during the forecast period as consumers rapidly adopt driver-assist technologies to reduce driving stress and ensure road safety. Automakers are taking note of these trends and offering innovative driver assistance solutions to gain a competitive edge. The factors contributing to the market share of artificial intelligence in vehicles are increasing demand for driver comfort and improving access to mobility.
Global Automotive Artificial Intelligence (AI) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Automotive Artificial Intelligence (AI) Market analysis, the rising use of cloud-based computing platforms and on-premises hardware to safely restore large amounts of data has paved the way for scaling analytics platforms. Increased investment in research and development by major companies will also play an important role in promoting the adoption of artificial intelligence technology. The NLP segment is expected to gain momentum during the forecast period. NLP is increasingly being used by various businesses to better understand customer preferences, evolving trends, buying behavior, decision-making processes, and more.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 129.12 billion |
| Growth Rate | 38.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Automotive Artificial Intelligence (AI) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Automotive Artificial Intelligence (AI) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Automotive Artificial Intelligence (AI) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Artificial Intelligence (AI) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Artificial Intelligence (AI) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Automotive Artificial Intelligence (AI) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Automotive Artificial Intelligence (AI) Market Report Snapshots
- Global Automotive Artificial Intelligence (AI) Companies
- Global Automotive Artificial Intelligence (AI) Market Size
- Global Automotive Artificial Intelligence (AI) Market Analysis
- Global Automotive Artificial Intelligence (AI) Geographic Analysis
- Global Automotive Artificial Intelligence (AI) Market News
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